Drydocks World, which sought insolvency protection in April as it restructures $2.2 billion of debt, signed a joint venture for its Southeast Asia operations with Pacific Carrier Ltd. on Wednesday, part of Malaysian tycoon Robert Kuok's empire.

Kuwait's Global Investment House said on Monday that creditor banks had approved a delay in repayment of principal and interest to November from June, days after bondholders also agreed to extend scheduled payments to later in the year.